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Rand fairly quiet, awaits MPC decision
January 22, 2013--The rand remained on the sidelines at midday on Tuesday, in anticipation of CPI figures to be released on Wednesday and the MPC announcement on Thursday.
“The rand is a bit tossed and turned today. Markets are waiting on the data due throughout the rest of the week‚” said Ockert van Niekerk‚ head of trading at PSG.
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Source: FIN24
Industrial stocks weigh on JSE
January 21, 2013--The JSE remained softer on Monday at noon, with industrial shares pulling the all-share index lower after the poorly received trading statement from luxury group, Richemont (CFR).
At 12:33‚ the All Share [JSE:J203] index was 0.74% lower at 39 870.37 points‚ with the Top 40 - (Tradeable) [JSE:J200] index shedding 0.81% to 35 433.17‚ while industrials gave up 1.16%.
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Source: FIN24
Miners lead stocks higher
January 18, 2013--Stocks ended the week with modest gains on Friday with miners adding the most points to the key index after an upbeat growth data in China, the world's biggest commodity consumer.
But retailers restricted the upside momentum with clothing chain Mr Price falling for the ninth consecutive session on growing concerns that the sector's valuation is not justified by its earnings or outlook.
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Source: FIN24
Rand weakens on farmworker strikes
January 18, 2013--The rand weakened against the dollar in early trade on Friday, undermined by negative sentiment from persistent labour unrest.
Thousands of farm workers in the country's fruit growing belt took to the street on Thursday despite calls by unions to freeze the labour action for a week.
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Source: FIN24
JSE flat, miners weigh on labour woes
January 17, 2013--The JSE opened flat on Thursday morning, with retailers making gains, while all the mining indices were in the red due to investor concerns that the shaft closure announcement by Amplats and subsequent job losses could lead to further pressure on the industry.
Amplats miners went on strike after the restructuring news‚ but returned to work on Wednesday night‚ the National Union of Mineworkers (NUM) said on Thursday
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Source: FIN24
Rand strengthens on stronger euro
January 17, 2013--The rand marked time during midday trade on Thursday, after strengthening slightly off Wednesday's weaker levels.
Tony van Dyk‚ a currency dealer at the Iquad Group‚ said a couple of factors influenced the move‚ “Amplats miners have gone back to work and the euro has recovered against the dollar. On the back of those two things we’ve seen the rand recover.”
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Source: FIN24
Platinum sector weighs on JSE
January 16, 2014--The platinum sector dragged the JSE down on Wednesday as foreign investors feared that the shaft closures and consequent job losses announced by Amplats would lead to continued stained industrial relations in the mining sector.
At 17:00‚ the All Share [JSE:J203] index was down 0.08% to 39 879.99‚ with the platinum index dropping by 3.70%‚ while industrials were up 0.42%.
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Source: FIN24
Mines keep pressure on rand
January 16, 2013--The rand continued its slide against the dollar on Wednesday morning, as a result of negative sentiment primarily driven by the decision of Anglo Platinum [JSE:AMS] to suspend some of its operations.
Kuziva Muganiwa‚ a global markets analyst from Vunani Capital‚ said the rand could weaken to R8.90/$ within the day.
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Source: FIN24
How JSE-listed ETFs performed in 2012-Different Questions
The two leading ETF's outperformed every local managed unit trust over last year.
January 15, 2013--As the exchange traded fund (ETF) market in South Africa continues to grow, the number of choices facing investors is becoming more diverse and more complicated.
The number of different indices being tracked means that investors should regularly update themselves on how these different funds are performing and whether the index they have chosen is the right one for their needs.
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Source: MoneyWeb
Poor Macroeconomic Outlook Dampens Single Currency Prospect for W' Africa
Janaury 15, 2013--Prospects for the proposed take-off of a single currency regime by 2015 remained blurred as none of the six member countries of the West African Monetary Zone (WAMZ) including Nigeria, satisfied the required macroeconomic convergence criteria last year.
The drive towards the adoption of a single currency regime in the West African sub-region was originally fixed for 2003 but this had been postponed three times largely because of “mixed” progress among member countries in attaining the set criteria.
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Source: This Day Live
